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Data released on Wednesday showed that the US economy expanded at its quickest pace since 2014 in Q3. The US Commerce Department said that GDP grew at an annualized rate of 3.3% in the July to September period — the highest reading since Q3 2014. The release beat market forecasts of 3.2% growth and was faster than the initial estimate of a 3% expansion. In a tweet, President Trump said GDP would have climbed to 3.9% if not for the storms, citing internal research by his Council of Economic ...

Earlier today, North Korea launched an ICBM that flew higher and further than any previous test firing. The missile was launched from just north of Pyongyang, reaching a height of nearly 3 kilometers and landed 600 miles east, in the Sea of Japan. This latest test firing, 2-months on from the last, is a direct challenge to President Trump, with the US Defense Secretary, James Mattis, commenting that the latest test firing demonstrates that North Korea has the ability to hit “everywhere in the ...

USD continues to languish at 8-week lows against many of its peers, as the markets are concerned over possible delays to the US Tax Reform Plan. Senator John Cornyn, the Senate Republicans' whip, said on Monday "Hopefully we will get to the floor on Wednesday." Asked to clarify if he meant the vote to proceed will be Wednesday, he said yes. The expectation is that Senate Majority Leader McConnell will bring the bill to the house on Tuesday and that will then start a 20-hour debate clock ...

Bitcoin price is getting closer and closer to $10K, trading at approximately $9,715. By last summer’s end, big businesses were seen to gain an even greater interest in Bitcoin, likely entering the market on September 15, when the cryptocurrency lost 40%, dropping to $2,990. Since then, any scepticism surrounding Bitcoin, comparing it to the tulip mania and the dot-com bubble, has mostly died out, with media nowadays releasing exceptional forecasts about the bright future of cryptocurrencies, ...

The political instability in Germany improved over the weekend, as the leader of Bavaria’s conservative party endorsed an alliance with Germany’s Social Democratic Party (SPD). With voter pressure and the need to avoid new elections, the SPD has agreed to talk with Chancellor Angela Merkel, which raises the prospect of a new “Grand Coalition” German Government. Many European leaders have underlined the importance of getting a stable German government in place quickly so that the Eurozone can ...

Crude reached higher highs in the first ten days of November than it had in more than two years, then experiencing a correction of roughly 5%. After that, both Brent and WTI went into recovery mode. Yet, while the European oil benchmark recovered half the correction to reach $63 per barrel approx., the U.S. benchmark has moved beyond previous peaks, rising to 58.37 since last Tuesday. The bulk of oil in Europe and Asia comes from the members of “OPEC Plus”, including Russia and nearly a dozen ...

Data released on Thursday from Markit Economics showed eurozone’s thriving economy powered ahead in November, with new manufacturing orders reaching 17-year highs and a resilient labour market that has shown steady growth. The data suggests that eurozone businesses experienced their best month in almost 7 years, with the main indicators of demand, output, employment and inflation at multi-year highs. The data signals that Q4 GDP growth is likely to surpass expectations, with an annualized ...

UK Chancellor Phillip Hammond delivered an Autumn Budget that appeared to be somewhat neutral in its content. More sobering was the updated forecast of UK economic growth, which is growing slower than previously thought. Hammond said productivity levels remained "stubbornly flat", with growth until 2021 expected to be lower than predicted in March. The Office for Budget Responsibility (OBR) is now predicting the UK economy will grow by 1.5% this year – considerably lower than the 2% forecast ...

Today sees the release of the UK’s Autumn Budget with the markets believing this financial statement is critical for Prime Minister Theresa Mays’ survival. Following the very narrow victory she had in the recent General Election, this Budget could provide May with an opportunity for redemption from voters. The Prime Minister is treading water as she deals with conflicts within her own cabinet and talks of a rebellion within her own party to oust her. However, whilst Prime Minister May is under ...

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